Energy Investing - CBO: Inflation Reduction Act will cost middle class Americans $20 Billion in new taxe - Energy Investing - InvestorVillage


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Msg  441540 of 451568  at  8/16/2022 8:15:52 AM  by

makemoneyinoilandgas


 In response to msg 441533 by  Bearcatbob
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Re: CBO: Inflation Reduction Act will cost middle class Americans $20 Billion in new taxe

 I guess nobody knows the exact details yet, so it is impossible to come prepared.
 
Just when we do our taxes, we will find out that we are no longer eligible for a full deduction of something we used to fully deduct in past years, although the direct tax rates might be not much higher than before.
 
Reminds me a force selling of my MLP - where all paper savings from previous years have suddenly returned as real taxes to be paid at highest rates, and all that additional income (that we could not spend in any way before) was added to what we earned. All previous tax planning got totally messed up. We could no longer deduct a college tuition of our daughter. 


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Msg # Subject Author Recs Date Posted
442177 Re: CBO: Inflation Reduction Act will cost middle class Americans $20 Billion in new taxe sluicer 0 8/18/2022 2:57:19 PM




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